Cheng Lai has announced a collaboration with Hongde Era to establish the largest charging network for electric vehicles, with charging prices expected to decrease by 16%.
On March 18, 2025, Cheng Lai (09866.HK/NIO.US) and Hongde Era (300750.SZ) signed a strategic cooperation agreement. This partnership aims to develop an extensive charging network specifically for electric vehicles, ensuring high efficiency and accessibility for users.
The collaboration will leverage advanced technologies, focusing on providing a superior charging experience to customers. It is designed to enhance the overall user experience by facilitating easier access to charging stations, thereby promoting the adoption of electric vehicles.
As a result of this partnership, Cheng Lai’s stock has surged, reflecting investor confidence. The company reported a significant increase in its market value, with the stock price reaching 44.15 HKD per share, marking a 16% rise.
Furthermore, the joint venture aims to implement a robust charging system that can handle the growing demand for electric vehicles, with an estimated market potential exceeding 25 billion HKD. This initiative will also include the development of new energy vehicle manufacturing capabilities to support the increasing production of electric vehicles.
Cheng Lai’s commitment to enhancing electric vehicle infrastructure underscores its strategic vision for sustainable transportation. The company is poised to build a network of 3,172 charging stations and is collaborating with major manufacturers like Dong’an, Yuantong, and others to expand its network across various regions.
Looking ahead, Cheng Lai plans to establish 1,000 charging stations by 2025, contributing to the national goal of increasing electric vehicle adoption. The collaboration aims to align with government policies aimed at promoting renewable energy and reducing carbon emissions.
The partnership is expected to improve service quality and provide more reliable charging options for electric vehicle users, further accelerating the transition to sustainable energy solutions.
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